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Use of COSO 1992 in Management Reporting on Internal Control
Parveen P. Gupta and Jeffrey C. Thomson
A new IMA® research study focuses on the current usage, role, and extent of guidance the COSO 1992 Framework provides in helping management conduct its internal control evaluation to fulfill Sarbanes-Oxley Act (SOX) requirements. Results show that the Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) may be falling short of providing the needed guidance.
Employee Empowerment Works at Small Companies, Too
Robert Marshall; John Talbott, CMA; and David Bukovinsky
Even small companies can profit from one of their greatest assets—the intellectual capital embodied in employees. Properly organized formal empowerment programs like the one at this Dayton, Ohio, firm can spur the ingenuity and innovativeness of employees, resulting in substantial cost savings, increased productivity, and a more robust bottom line.
The CFO as Predictor of Corporate Performance
Tom FitzGerald and John Collins
Just as there are early warnings of a heart attack, so also signs of a corporate meltdown can be discerned with the right tools. CFOs must constantly measure performance drivers such as Critical Functions, Generators of Performance, and Blockers of Performance to prevent corporate angina.
Beating the Budget
James Thomas Mackey, CPA, and Hugh D. Pforsich
As the world economy becomes increasingly competitive, a company that is merely satisfied to meet its budget every year may soon find itself in last place in its industry category. The clear goal that executives must focus on is continuous improvement in costs and surpassing their budgets every year, monitored and mentored by savvy management accountants equipped to analyze accounting reports and pinpoint areas for improvement.
The BPM Convergence
According to this software guru, business needs are driving a convergence of planning, balanced scorecard, dashboard, and OLAP tools in the business performance management arena. His advice to corporate officers and managers: Focus on the business issues most critical to your organization over the passing trends in the software marketplace.
Learning: too much of a good thing?
Ethical scandals rock state governments.
Finding commonalities in difference.
Tax Increase Prevention and Reconciliation Act of 2005.
Consumers consider the importance of corporate social responsibility.
Exposing enterprise data: XBRL GL, web services.
IAESB publishes ethics education paper, proposes IT guidance for professional accountants
IFAC highlights internal control developments
Section 404 saga continues
Books: Tools for SOX compliance
TOOLS OF THE TRADE
All those pictures.
A killer app for digital pens.
Bridging the digital divide.